Thai Gunkul sees USD 155m in renewables sales by 2018 - report

Sep 19, 2014 - Thailand-based Gunkul Engineering Pcl (BKK:GUNKUL) plans to make the renewables segment its major business, hoping to generate revenues from it of up to THB 5 billion (USD 155m/EUR 120m) by 2018.

As part of the plan, the power group and electrical equipment maker intends to lift its electricity production capacity to 300 MW by 2018 from 220 MW currently, the Bangkok Post said today, citing managing director Somboon Aueatchasai. By the same year, revenues from renewables power generation are seen at between THB 4 billion and THB billion, and be higher than equipment supply sales.

Looking ahead, the Thai firm expects to start receiving annual revenue of about THB 950 million from its 60-MW Huay Bong 1 wind farm late in 2015 and will also seek to get licences to operate the 60-MW Huay Bong 2 wind park and a 30-MW solar plant. In addition, the company plans to apply for additional renewable energy licences and will change its name to Gunkul Energy in 2016.

On Thursday, Gunkul said it has signed a memorandum of understanding with East Coast Furnitech Public Company Limited (ECF) to form a joint venture to develop rooftop solar projects.

(THB 10 = USD 0.310/EUR 0.241)

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